It is unfortunate that in spite of several pleas from almost every stakeholder, including the international community and the Private Sector Commission (PSC), the Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill (AMLCFT) was defeated in the National Assembly by a majority opposition vote last week.
The absence of adequate legislative support had resulted in the country missing an August deadline and the Caribbean Financial Action Task Force (CFATF) granting an extension to November 18. Attorney General and Legal Affairs Minister Anil Nandlall and Financial Intelligence Unit (FIU) head Paul Geer have now been tasked with examining the anticipated impact of the failure to pass the legislation on Guyana.
From all indications, Guyana’s representatives will appear before a CFATF plenary next week, and it is expected that the country’s representatives will report that the AMLCFT Bill has not been passed. The government fully understands the many negative implications of the legislation not being passed and certainly has not given up in its continued efforts to place pressure on the opposition parties.
President Donald Ramotar met numerous civil society stakeholders earlier this week for crucial talks. Among them were members of the private sector, bankers and trade unionists, the majority of whom will directly or indirectly be affected by the opposition’s rejection of the bill that sought to upgrade Guyana’s laws against financial crimes.
The PSC must be commended for being so vocal on the issue. The body has issued several releases and has been engaged in serious lobbying efforts, imploring all sides to act in the nation’s interest. It is always encouraging to see civil society stakeholders taking an active role in matters of national importance.
We were very disappointed that the opposition voted to prevent the PSC’s petition from being presented in Parliament. This, of course, raises several other questions in relation to the role of the legislature in strengthening democracy. In our view, the PSC’s petition would have given lawmakers an opportunity to hear the concerns of the various constituents in relation to the legislation.
The PSC represents those industries that drive the Guyana economy forward , while providing the bulk of the employment opportunities and include, as outlined in the petition, Guyana’s business community across the country – rice; mining (gold and bauxite); banking and insurance; construction; telecommunications and associated services; domestic aviation; manufacturing; fishing; tourism; and forestry.
Preventing the PSC’s petition from being read, therefore, could be interpreted as an attempt by the opposition to silence this very important stakeholder. This most recent action sends the wrong signal and may even discourage other stakeholders who may have a genuine desire in shaping future debates on national issues.
However, all of the political players are in support of having such legislation in place and from the way it looks, they are still open to discussion on the matter. But it will call for much maturity, flexibility and compromise on everyone’s part to see the successful passage of the bill.
For its part, the Alliance For Change (AFC) has signalled its willingness to support an agreement to take the bill back to the National Assembly. However, it maintains that it will not vote for the legislation to be passed unless steps are taken towards making the Public Procurement Commission (PPC) a reality.
Similarly, Opposition Leader David Granger expressed the willingness of A Partnership for National Unity (APNU) to cooperate with its counterparts to bring the bill back before the National Assembly, but he said that it would need to be recommitted to the select committee level for further considerations. It must be noted that to date, we have no idea as to the real concerns of APNU in relation to the bill as it has not made these public.
It is hoped that our politicians will rise above partisan politics and act for the good of the country and its people. The nation expects no less.
